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Uptrend Extends

AUDUSD TECHS
  • RES 4: 0.7813 High Apr 19, 2018
  • RES 3: 0.7741 2.0% 10-dma envelope
  • RES 2: 0.7732 High Apr 20, 2018
  • RES 1: 0.7709 Intraday high
  • PRICE: 0.7705 @ 05:44 GMT Dec 31
  • SUP 1: 0.7603 Low Dec 30
  • SUP 2: 0.7557 Low Dec 28 and the 20-day EMA
  • SUP 3: 0.7517 Low Dec 22
  • SUP 4: 0.7462 Low Dec 21 and a bear trigger

AUDUSD continues to trade higher. The pair has this week breached recent resistance at 0.7640, Dec 17 high and a bull trigger. This confirms a resumption of the uptrend and opens 0.7732 next, Apr 20, 2018 high. The break higher also reinforces underlying bullish conditions and maintains the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode too. Firm support is at 0.7557, Dec 28 low.

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